Kensington has switched to paperless application processing and reviewed its lending policy, including changes to policies on lending to older customers, buy-to-let landlords and self-employed income verification.

Intermediaries are now able to scan and upload all documents directly onto the lender’s online portal.

With buy-to-let, Kensington has revised its requirements for applicants, with clearer definitions to help intermediaries. Buy-to-let applicants must now be an existing residential homeowner for the past 12 months, unless they have owned four or more buy-to-let properties for longer than 12 months. And a minimum income is only required for applicants who do not currently own a buy-to-let property.

Kensington has also clarified its income requirements for older borrowers. The lender is still able to lend up to the age of 75 at the end of the term and where a customer is borrowing beyond the age of 70 or their anticipated retirement age, whichever is the earliest, future retirement income will need to be evidenced. The maximum age at application for customers who wish to borrow beyond the age of 70 or their anticipated retirement age is 55.

For self-employed customers who choose to support their application with verified accounts, Kensington has expanded the number of accountants and bookkeeping professional bodies from which it can consider verification. There are now eight acceptable professional bodies, including the Institute of Financial Accountants, Association of Authorised Public Accountants and Association of Chartered Certified Accountants.

Steve Griffiths, head of sales and distribution at Kensington, said: “Placing a complex mortgage application doesn’t have to be complicated. At Kensington, we recognise that real life isn’t always straight forward, so we work hard to make our policy and process as easy as possible for our intermediaries.

“All of our lending policy is available for brokers to read online and, with paperless application processing, it is now possible for a broker to submit a full application to Kensington without going near a post box.”